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Whale Activity Sends Shockwaves Through $SOL Market: Massive Deposits and Sales on Kraken Raise Eyebrows
A significant whale transaction has sent shockwaves through the Solana ($SOL) market, with a massive deposit of 1.32 million SOL into Kamino and subsequent sales of 100,000 SOL worth approximately $10.7 million. This sudden activity from an unnamed whale has raised eyebrows among crypto enthusiasts and traders.
The recent move by the whale suggests that it may be attempting to manage risk or capture value at key price points. By selling a significant portion of their SOL holdings, they are likely trying to hedge against future market volatility. The large scale of this transaction underscores the potential impact of these big players on the cryptocurrency’s price and overall market sentiment.
It appears that the whale has deposited 1.2 million SOL into Kamino, which is a decentralized liquidity protocol. This could imply a sophisticated strategy aimed at extracting value from their holdings beyond traditional price speculation. These whales are actively using Kamino to provide liquidity, which may have significant consequences for the token’s market dynamics.
The actions of Pumpfun and this unnamed whale will undoubtedly continue to influence the short-term price action of Solana ($SOL). Their decisions have the potential to create substantial ripples in the broader market over the coming days.
Source: https://nulltx.com/whale-activity-sends-shockwaves-through-sol-market-massive-deposits-and-sales-on-kraken-raise-eyebrows/
